Dev left a very good comment on yesterday’s post about the best dividend paying stocksÂ which said that while it’s good to have the list of current yields, it’s also important to look at the consistency with which these companies have paid dividends.
That is a very valid point and I took a look at the dividend paying history of all the stocks that I mentioned yesterday plus SCI which has a very good yield, was present in my earlier posts but I somehow missed yesterday. Thanks to Mr. VKD Menon to point that out.
I’ve taken the dividend history data from the NSE website, and right now I think that’s the best source to get this data. You can find calculated dividend yields on other websites, but I’ve found a lot of the numbers to be inaccurate, and that’s primarily the reason I didn’t use any website but rather took the share price and dividend paid and then calculated the numbers myself.
With that said, here is the table that contains the dividend paying histories of some of the best dividend paying companies in India. (Click to enlarge)
The quarters in the above chart are based on calendar years for ease of use, and when I’ve used percentages it’s because there was a share split or bonus in the share and the NSE website listed the dividend as a percentage of face value instead of the amount, and that may be inaccurate.
Looking at this data shows that while most of these companies have been consistent dividend payers – India Bulls and Sun TV has hiked the dividends only recently, and you never know if that will continue or not. Even Cummins India has had a good dividend payout this year but the only other year when the dividends have been these high was 2009.
I don’t notice anything unusual in any of the other stocks, but if you do then please do leave a comment.